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Revision as of 19:12, 10 April 2025
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No Fraud - Your tax debt cannot be related to fraud, to wit, you will need to owe back taxes anyone failed shell out them, not because you played funny on your tax send.
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Now we calculate when there is any taxes due. Assuming for now that not any other income exists, we calculate taxable income by taking the make the most of the business ($20,000) and subtract a few great deduction (which is $5,950 for 2012) less the exemption deduction (which is $3,800 for 2012). The taxable income would then be $20,000 - $5,950 - $3,800 which equals $10,250. Based on tax law the additional income tax due for duty would be $1,099. So, the total tax bill for this taxpayer should be $1,099 + $3,060 for only a total of $4,159.
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Regarding egg donors and sperm donors there was an IRS PLR, private letter ruling, saying it's normally deductible for mothers and fathers as a medical expenditure. Since infertility is a medical condition, helping along having a baby could be construed as medical really care.
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